Global ATM Market Size, Drivers, Trends, Opportunities And Strategies – Includes ATM Market Analysis
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The increasing consumer usage of ATMs are expected to drive innovation in ATM manufacturing, thus driving the market during the forecast period.
The global ATM market is expected to grow from $35.63 billion in 2022 to $37.07 billion in 2023 at a compound annual growth rate (CAGR) of 4.1%. The ATM market is expected to grow to $42.44 billion in 2027 at a CAGR of 3.4%.
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Global ATM Market Segments Include:
- By ATM Type: Location Based ATM, Operation Based ATM
- By Solution: On Site, Off Site, Work Site, Mobile
- By Operation: White Label, Green Label, Yellow Label
- By Application: Withdrawal, Transfer, Deposits
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global ATM market in 2021.
Major Market Players in the ATM market include NCR Corporation, Diebold Nixdorf, Hitachi-Omron Terminal Solutions Corporation, GRG Banking Equipment Co. Ltd., Fujitsu Frontech Ltd., Hyosung Corporation.
The introduction of Smart ATMs is a recent trend gaining popularity in the ATM market. Smart ATMs are automated teller machines (ATMs) that can do more than just disburse money. Smart ATMs allow for the implementation of cutting-edge technologies that improve the customer experience while also minimizing fraud. For example, in October 2021, Nations Trust Bank, a Sri-Lankan-based Bank, launched the first Smart ATM in Sri Lanka. The new machine is powered by technology and innovation to deliver a unique banking experience, allowing users to withdraw their preferred mix of currency notes to pay for bus or train tickets or eat at the MMC’s restaurants. Commuters on the go will be able to save regularly used operations such as withdrawals, bill payments, and cash transfers as favorites, saving time and unnecessary annoyance, owing to capabilities supplied by smart ATMs.
The ATM Global Market Report 2023 provides a ATM market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The ATM market forecast analyzes ATM market size, ATM market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
ATM refers to a specialized computer that makes it convenient to manage a bank account holder’s funds. An automated teller machine (ATM) is a type of computerized banking terminal that allows consumers to conduct simple transactions without the assistance of a branch operator or teller. ATMs are convenient as they allow customers to do quick self-service operations such as deposits, cash withdrawals, bill payments, and account transfers. Customers can access banking 24/7 through ATMs.
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